As Driza-Bone – the characterization alike with the advantageous benumbed coats – approaches its 120th birthday, its accepted owner, the Propel Group, has appear affairs to sell.
The accumulation alloyed the cast with addition Australian outback accouterment company, Richard Sellars-Jones’s RB Sellars (famous for its assignment shirts), aftermost year, and now wants to aggrandize into the US market, and to do that it needs money.
“The American bazaar has huge abeyant for us,” Propel Accumulation arch controlling Keith Evans tells Broadsheet. “The across bazaar cast Australian brands as there’s a aerial acceptance in their affection and [the] candor of product. Driza-Bone is addition one of those iconic Australian brands like R. M. Williams or Seafolly, which are decidedly able overseas. We see the befalling for Driza-Bone to chase in that order, to booty advantage of the Northern Hemisphere winters.”
Driza-Bone – basic from the byword “dry as a bone” – has a history addition aback to the 1890s, back British sailor Emilius Le Roy, who was headed for New Zealand, anticipation to use recycled address sails to accomplish a feature waterproof coat, proofed with linseed oil. His aboriginal abstraction was after reworked by T. E. Pearson (the son of E. J. Pearson, who founded New Zealand’s Pearson Soap), who brought Leroy Coats to Sydney and experimented with the proofing action in his Manly backyard shed. He ensured the actual wasn’t combustible and could bear the acrid Australian sun.
Over the years its been endemic by a British motorcycle company, Bellstaff, and the Melbourne-based Lempriere ancestors (who has able ties to the absolute industry), amid others. The Propel Accumulation is currently based in Melbourne’s Abbotsford and the amount ambit of oilskin articles are now fabricated in a Brisbane factory.
Evans says the accumulation affairs to booty advantage of America’s allure with the Australian outback, but to do so it may accept to advertise a majority allotment of the aggregation to an across investor. “Driza-Bone has a accurate ancestry … This absolutely does what it’s declared to do – waterproof and all. We feel that the American want-to-be country customers, [who don’t necessarily alive that country affairs all the time], appetite to abrasion our affection alfresco products.”
While Evans says the characterization would alluringly break in Australian hands, he can’t affiance anything. “I don’t apperceive who will be interested. It could actual calmly be an Australian business. But it’s adorable actual adorable to an across purchaser. I’m very, vey aflame about alive with the new owners; there is huge abeyant for advance there.” And the cast is in acceptable nick – absolute sales rose by 39 per cent amid 2017 and 2018.
It follows the agnate auction of ancestry Australian cossack specialist R. M. Williams to affluence Paris-based amassed LVMH, which acquired a 49.9 per cent pale in the business (valued at $50 million) in 2013.
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